Hartford Financial Management Inc. Acquires 164 Shares of Medtronic plc (NYSE:MDT)

Hartford Financial Management Inc. grew its holdings in Medtronic plc (NYSE:MDT) by 52.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 479 shares of the medical technology company’s stock after purchasing an additional 164 shares during the quarter. Hartford Financial Management Inc.’s holdings in Medtronic were worth $39,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its stake in Medtronic by 19.6% during the 2nd quarter. SRS Capital Advisors Inc. now owns 782 shares of the medical technology company’s stock valued at $69,000 after acquiring an additional 128 shares in the last quarter. Modera Wealth Management LLC raised its stake in shares of Medtronic by 3.9% during the 3rd quarter. Modera Wealth Management LLC now owns 3,537 shares of the medical technology company’s stock worth $277,000 after purchasing an additional 133 shares during the period. jvl associates llc raised its stake in shares of Medtronic by 3.8% during the 4th quarter. jvl associates llc now owns 3,840 shares of the medical technology company’s stock worth $316,000 after purchasing an additional 139 shares during the period. Washington Trust Advisors Inc. raised its stake in shares of Medtronic by 7.1% during the 3rd quarter. Washington Trust Advisors Inc. now owns 2,102 shares of the medical technology company’s stock worth $165,000 after purchasing an additional 140 shares during the period. Finally, Dfpg Investments LLC raised its stake in shares of Medtronic by 0.3% during the 4th quarter. Dfpg Investments LLC now owns 53,045 shares of the medical technology company’s stock worth $4,413,000 after purchasing an additional 142 shares during the period. Institutional investors own 82.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michael Marinaro sold 854 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the sale, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Sean Salmon sold 30,695 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the completion of the sale, the executive vice president now owns 48,289 shares in the company, valued at $4,110,842.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company’s stock, valued at approximately $2,321,684.50. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Medtronic Trading Down 1.8 %

Shares of Medtronic stock traded down $1.47 during midday trading on Friday, reaching $80.70. 1,835,077 shares of the company’s stock traded hands, compared to its average volume of 6,222,327. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The company has a market cap of $107.16 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76. The stock has a 50 day moving average of $84.80 and a 200-day moving average of $80.97. Medtronic plc has a 12 month low of $68.84 and a 12 month high of $92.02.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. As a group, equities analysts expect that Medtronic plc will post 5.2 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be paid a $0.69 dividend. The ex-dividend date is Thursday, March 21st. This represents a $2.76 annualized dividend and a yield of 3.42%. Medtronic’s payout ratio is 87.90%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MDT shares. Truist Financial boosted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Mizuho lifted their target price on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st. Finally, Oppenheimer boosted their price objective on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.91.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.